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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 220.66

+1.6%

Nov 21 9:30 AM EST

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To: GST who wrote (79473)	10/3/1999 10:25:00 PM
From: Bob Kim	Read Replies (3) of 164684

GST, Most of what Blodget said is not really any different from what he said in March when he started coverage at Merrill. Back then he also cited the biotech analogy. The only thing that might be alarming to his employer is that he said the cycle was ending. That could make his bosses second-guess why they have at least doubled the size of his group since he first came aboard, with at least one hire having come on board as recently as mid-August. The other concern that his employer might want to worry about is that the cited risk of 75% downside goes against his ratings. All of his long-term ratings are Buy, even though he has suggested multiple times that many internet companies may not survive beyond the next few years, if even that. It might be tough to explain in a deposition, why he kept positive ratings on stocks and continued to recommend their purchase, even when he apparently expected them to decline 75% and in some cases had published price targets that were well below current trading levels.

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